BLaw Ch 26

A series of cases that permits competitors to lobby for changes in the law to gain greater protection from competition.

The body of federal and state laws and statutes protecting trade and commerce from unlawful restraints, price discrimination, price fixing, and monopolies. The principal federal antitrust statues are the Sherman Act of 1890, the Clayton Act of 1914, and the Federal Trade Commission Act of 1914.

Any actions by a firm to eliminate competition and gain monopoly power.

The formal disbanding of a partnership or a corporation. It can take place by (1) acts of the partners or, in a corporation, of the shareholders and board of directors; (2) the death of a partner; (3) the expiration of a time period stated in a partnership agreement or a certificate of incorporation; or (4) judicial decree.

The act of selling one or more of a company's parts, such as a subsidiary or plant; often mandated by the courts in merger or monopolization cases.

The power of a firm to control the market price of its product. A monopoly has the greatest degree of market power.

The possession of monopoly power in the relevant market and the willful acquisition or maintenance of the power, as distinguished from growth or development as a consequence of a superior product, business acumen, or historic accident.

A term generally used to describe a market in which there is a single seller or a limited number of sellers.

The ability of a monopoly to dictate what takes place in a given market.

The pricing of a product below cost with the intent to drive competitors out of the market.

Setting prices in such a way that two competing buyers pay two different prices for an identical product or service.

Any contract or combination that tends to eliminate or reduce competition, effect a monopoly, artificially maintain prices, or otherwise hamper the course of trade and commerce as it would be carried on if left to the control of natural economic forces.

Damages consisting of single damages determined by a jury and tripled in amount in certain cases as required by statute.

An arrangement in which title to property is held by one person (a trustee) for the benefit of another (a beneficiary).